Advice on paying off my car quicker?

Hey everyone i need advice. okay so i have a 2001 toyota camry that i bought used from the toyota dealership ive had it for about 2 years. i pay 350 a month which 150 goes straight to interest. i know i got raped on the interest but i had no choice the car is under my grandpas name cuz i was only 16 when i bought it and therefore had no credit. ive grown extremely unhappy with my car and would like to trade it in but its only valued at 5000 and i owe 8200 so i would like to know if anyone has any ideas or maybe programs that could help me to pay it off quicker so i could trade it in without going upside down... any alternatives to refinancing? your help would be greatly appreciated thanks

Answers:

If u bought a car and then dont want it anymore can u return it?

How do yo know that the car is valued at $5000.00? If the car is really clean it might bring more. Dave Ramsey would say you are now paying a stupid tax. Do you have extra money above the car payment? If yes add an extra hundred or even two if it isn't going to leave strapped. They will take your extra payment and apply it to the amount owed on the car not the credit. Check Blue book or NADA and you see what the value is not what a dealer is offering for the car, they buy wholesale and want every dollar that they can get. If I was your uncle I would also tell you stay away from car leases they cost a lot more than you think

Buying a vehicle?


Edit note; get rid of this car as soon as you can and buy a old clunker and drive it until you save up enough money to pay cash for a new one .

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Wow.you got dogged.Best way to pay off earlier is to make a larger payment to the finance company each month. Example: Pay $400.00 per month.specify in a letter (keep a copy) with the payment that you are paying an additional $50.00 and to apply that directly to the loan. Make sure you send a letter each month when sending in your payment and keep a copy. PLEASE DO CHECK THAT THERE IS NOT AN EARLY PAY OFF CLAUSE IN YOUR AGREEMENT.

This is for the ''car guys'' what does a TSI in a car?

You are kinda stuck with it man. Even if you pay it down to 5k and sell it, you will have to go through lots of trouble getting the lien released and getting the clear title. Also, you are young, you dont want to get another car because you will then hamper your life. If you buy a nicer car now, you will be in mega debt and you are only 18! Then you will have to work through college and pay your $700 car payment every month. You will not be able to pick up and do anything crazy because you are married to your car.

How well do you like your Honda Element?


Your insurance will go up with anything other than the most lame car as well. You made a mistake buying this car and just pay it off. Let me tell you that you would make a bigger mistake if you bought another one. I know because I did that when I was in college. Now I just graduated 2 years ago and I have a high $$$ job but I still have car debt and it hampers my savings for a home.

Trying to Sell 2002 Chevrolet Avalanche?

Trade it in on a NEW Mazda 3. You could get lower payments on a lease also.

Have you ever sold a car?

Ask your grandfather, or parents, or any willing family member to see if they can help out with a Home-Equity loan.

I am looking for a FREE puppy to a good home...i live in center line, michigan?


This can be a scary thing, but if anyone in your family who is "willing" to help you has any property you can EASILY re-finance your vehicle for a much lower percentage and you might be able to shorten the life-span of the loan that way.

Need advice about selling my car?


Another answerer suggested that you send more money per month. I assume that if you could send $450 per month to your current loan you would've already been doing so -- so THATS out.

Does anybody know where to take used tires and wheels?


Short of that.. it looks as though you're in it for the long-haul my friend.

Jcb 3cx where to buy?


Good Luck.

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